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February 23, 2011 by · 1 Comment 

Netflix on Tuesday took another step towards transforming itself from a company that rents movies and TV shows via the Internet, then sends them out by mai,l to a company that eliminates the mail service and streams them directly to customers. It signed a deal with CBS that will give subscribers online access to thousands of classic TV shows — at no cost other than the $7.99 they pay monthly for Netflix’s streaming service. Netflix has already signed a similar deal with the Walt Disney Co. to stream Disney movies and ABC-TV television shows — but that deal includes both classic and some current programs. (Under the CBS pact, viewers will be able to watch episodes of the original Hawaii Five-0 TV series but not the new one.) Terms of the CBS deal were not disclosed, but some analysts put it at north of $200 million, or about what Netflix is paying Disney.